Academic journal article Journal of the International Academy for Case Studies

Shodh-Market Research for Economy Housing

Academic journal article Journal of the International Academy for Case Studies

Shodh-Market Research for Economy Housing

Article excerpt

INSTRUCTOR'S NOTES

CASE DESCRIPTION

Market Research is the main topic on which case is written. The sub-topics covered in the case are Concept testing, demand estimation, conjoint analysis, product offering, Segmenting and targeting end consumers for better positioning

CASE SYNOPSIS

The client OBL wanted to launch an economy housing project in 10 cities across South India took help of market research company Shodh. OBL had completed several mid-range housing projects involving apartments in the price class INR 2.5 million to INR 7.5 million. The client appointed Shodh to understand about the market potential and consumer preferences in the economy segment. The company therefore decided to obtain a deeper understanding of the market in a large, metropolitan city like Bengaluru in India. It took services of market research company Shodh to assess the market size, consumer requirements and consumer preferences in the economy segment in Bengaluru, India. To address OBL's information needs, Shodh conducted market and consumer research studies during March-May, 2015 using secondary data analysis, focus groups, expert interviews, field surveys and conjoint analysis. Since OBL wanted a presentation on the project by early-July, Vaseem had to analyse the data, prepare the demand forecasts, define the consumer segment profiles and describe the consumer preferences based on conjoint analysis and draw out the implications for the client's marketing strategy.

On a rainy day in June 2015, Vaseem, MD of Shodh, started working on case B of economy housing after validating results of case A on economy housing for Oriental builders Ltd. (OBL). Shodh is a Bengaluru, India, based market research agency which began analysing data for second part of a market research project that he carried out for a client named Oriental Builders Ltd. (OBL).

INTRODUCTION

The Western Economies were overwhelmed by the housing financial/economic crisis in 2007-2008. But, in India the sector was not hit by the financial crisis. Bengaluru was one of the cities in India which managed to have a decent growth of house sales averaging 15% per year during the economic crisis period of 2008. But, even with this growth, supply of housing projects exceeded the demand levels. As a result, developers started taking initiatives to make apartments more affordable. Developers who were known for offering premium apartments started their foray into economy housing projects. OBL wanted to enter economy housing segment comprising of apartments below Rs. 2.5 million and launching it simultaneously in 10 cities. For this purpose, they commissioned "SHODH", a Bengaluru based market research agency to assess the market potential and consumer preferences in the economy housing segment. After the proposal was approved, agency took 3 months to finish the field work. Agency is thinking how to analyse and present the results. Given the data and the results, how will SHODH interpret and make recommendations on marketing strategy such as product/pricing decisions and targeting the right customers for success.

CASE OVERVIEW

OBL Economy Housing research project on economy housing was developed by SHODH Market research agency. After finding information areas from qualitative research, SHODH designed quantitative questionnaire and identified information areas to answer issues. The case first addresses the concept testing of the Economy Housing Project and understands the proportion of rented and owned households, and availability of opportunistic investor buyers. The propensity of rented households and investors to purchase the economy housing project offer from OBL was discussed. SHODH aims to find the demand and sales potential of the concept from various people who are working or living in and around the project place in South Bangalore. Shodh needs to develop a methodology to estimate demand from survey research and concept testing. …

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